John Paxson has been running the show as the Chicago Bulls executive vice president of basketball operations for 17 years. Sure, there have been some good times sprinkled in there, but mostly, it's been bad. Especially in the last four years. The team's rebuild has gone sideways, and angst among Bulls fans has slowly turned to rage. They've yearned for change, and it's time they finally got their wish.

Starting next week, the Bulls will begin a "formal search process to hire a new top executive with full authority on basketball decisions," according to ESPN's Adrian Wojnarowski.

There's going to be a lot of celebratory drinking in isolation around the Chicagoland area tonight. 

These reports are not new. After Chicago hosted All-Star Weekend in February, rumors bubbled up that the organization could be making changes. But with the timeline reportedly set, the team has a big decision.

Wojnarowski added the Bulls intend to seek permission to interview Denver Nuggets general manager Arturas Karnisovas, 48 (a drafting mastermind with global connections), and Toronto GM Bobby Webster, 36 (one of the Raptors' lead decision-makers who was handpicked by president Masai Ujiri). 

These two younger executives are known for their successes in drafting and developing talent. Karnisovas helped develop Nikola Jokic and Jamal Murray, while Webster is known for drafting Pascal Siakam, finding undrafted Fred VanVleet off the scrap heap and, of course, trading for Kawhi Leonard. 

That thread aligns with the rest of the candidates on the list of Bulls COO Michael Reinsdorf. 

There are no star-level names. None of these guys is the head of basketball operations for his team. The Bulls are clearly after rising talent who have built up smaller-market teams through the draft. 

There's Indiana Pacers GM Chad Buchanan, a respected scout known for the implementation of analytics. He was also instrumental in the Portland Trail Blazers trade that sent Gerald Wallace to the Brooklyn Nets in exchange for the pick that became Damian Lillard. 

Adam Simon, a Miami Heat lifer, has risen up the ranks from video coordinator during the mid-90s to vice president of basketball operations. He is the lead draft decision-maker for a franchise known for its ability to develop young talent regardless of where they are selected. Making matters even juicier, the Bulls want to model their organization after the Heat, according to Joe Cowley of the Chicago Sun-Times.

Utah's Justin Zanik, a former agent who's now the Jazz's GM, also spent time with the Milwaukee Bucks.

Longtime Oklahoma City executive Michael Winger left the Thunder for the Los Angeles Clippers in August 2017. He is known for his cap knowledge and has been a sought-after name in NBA circles, and he decided against making a move to the Minnesota Timberwolves last year. 

Even though all of these candidates would be stepping into a bigger market, for the new GM to have success, he needs to be able to act on his own.

According to Wojnarowski, Chicago is likely to keep both Paxson and Gar Forman, their most recent GM, involved with the organization in some capacity. Paxson will reportedly be moving to an advisory role. The Bulls cannot leave them with too much power. 

Getting this dynamic right is the most important task the organization has faced in its modern history. No one will want to leave his current situation if Chicago's status quo remains.

The Bulls have been an embarrassment for nearly a decade. They covered up their mistakes for a few seasons by virtue of then-head coach Tom Thibodeau. Then Jimmy Butler carried the team to two overachieving campaigns. 

Since trading Butler on draft night in 2017, Chicago has bottomed out, winning only 71 games. The once-great franchise won a then-record-setting 72 games in the 1995-96 regular season alone. 

Just bringing in a new voice won't do much to change the fate of the organization. Given the state of the roster, there are three options for moving forward: start a new rebuild, stay the course and retool or go all-in and trade for a star.

Whichever route the Bulls take, they'll likely have to spend time re-evaluating across the board, though it will take time and patience to see dividends. A new coaching staff and set of trainers would signify a certain level of authority for the new GM and perhaps give the roster, as currently constructed, a chance to meet its potential. 

From there, changes could ensue. 

Lauri Markkanen—an "unhappy camper," according to Cowley—is extension-eligible this summer. His skill set will still be tantalizing to GMs, but he took a giant step back during his third season. It's probably worth keeping him around another year with a new foundation around him, but if he wants to leave or Chicago can package him for a big-time star, he could be on the move.

Zach LaVine means more to the Bulls as a first option than he would to any other team as their second or third. The new GM will have to decide if he's worth keeping as the face of the franchise or if it's better to sell on him now, even if it means the franchise won’t get back "equal" value. 

Coby White has captured the hearts of fans over this season on hiatus because of the coronavirus pandemic, but it remains to be seen whether he is a legitimate untouchable on the roster. He can score, but his upside remains in question.

Wendell Carter Jr. is the most solid two-way talent, but he has been sorely misutilized. What type of basketball Chicago wants to play will determine his future with the team.

The Bulls have some nice veterans in Otto Porter Jr., Thaddeus Young and Tomas Satoransky, as well as some other potentially useful younger players in Kris Dunn, Daniel Gafford, Denzel Valentine and Chandler Hutchison, any of whom could be moved for the right price.

They shouldn't feel married to anyone on the roster. They have a handful of intriguing talents, but it's important to remember that they have shown zero ability to stay healthy and win games. 

Chicago has a chance to reset and move toward a new era of basketball unencumbered by its recent failure. If the organization can get this hire right, the Bulls could finally be back on track to perform up to the standards of their rich history.

If not, there will be more of the same until real change takes place.

Follow Will on Twitter: @wontgottlieb.